The Bank of Ghana has warned all mobile loan applications and digital credit providers operating without a license to regularize their operations.
This is to ensure that digital lending services operate responsibly and protect consumers, the central bank said in a statement on 3rd November 2025.
Starting 3rd November, the BoG began accepting applications from companies seeking to operate as Digital Credit Services Providers.
Platforms still operating without proper authorization must submit the necessary documentation and meet licensing requirements by 30th June 2026, or risk penalties, suspension, or shutdown.
“All existing mobile loan applications and Digital Credit Services Providers currently operating without a license from the Bank of Ghana are hereby notified to regularize their operations with the Bank,” the statement said.
The warning comes as digital loan apps continue to expand in Ghana, providing fast access to credit for consumers who may not qualify for traditional bank loans.
Regulators and consumer advocates have highlighted the lack of a standardized method for determining interest rates, allowing individual platforms to set rates at their discretion. This absence of uniform criteria has led to wide variations in loan costs and uncertainty for borrowers.
The BoG’s licensing initiative is part of ongoing efforts to bring transparency and accountability to the rapidly growing digital lending sector, while still allowing the convenience of mobile credit services to continue.
